Terms of Remote Banking Services
1. Definitions
Remote
Services
Banking
Bank
Price List
Member State
Security Settings
Internet Banking
Customer
Account
User ID
User Authentication
Credentials
User
User Management
Limit
Maximum Limit
Agreement
Quick notifications
Operation
Terms of Operations
Communication
Channels
Cooperation Partner
Telephone Banking
Internet Banking (including Quick notifications), Telephone
Banking.
Swedbank AS, reg. No. 40003074764.
the current price list for the services of the Bank.
a member state of the European Union or of the European
Economic Area.
The Internet Banking use security limitations offered by the
Bank as set up by the Customer in Internet Banking.
an online banking service for giving remote orders for
execution of Operations which is available from
https://ib.swedbank.lv and in the Bank’s mobile apps
which are accessible according to the instructions at the
aforesaid address
a natural or a legal person who has entered into the
Agreement.
a customer’s account(s) at the Bank which is or are linked to
the Remote Banking Services.
the User identifier in the Bank as specified in the Agreement.
the permanent password and the code card containing
identification codes or the security token with access PIN that
generates access codes, the secure electronic signature
and/or other credentials agreed with the Bank.
the individual specified in the Agreement and authorized by
the Customer to use the Remote Banking Services at the
extent stated in the Agreement.
additional rights for legal entities that permit the User to make
changes in the Agreement via Internet Banking. A Maximum
Limit is set upon granting such rights.
the maximum permitted amount up to which a User, by giving
an instruction for execution of a payment or a transfer, is
allowed to debit the Account, subject to the conditions set out
in the Price List and the Agreement.
the maximum permitted amount up to which all Users
combined, by giving instructions for execution of payments or
transfers, are allowed to debit the Account, subject to the
conditions set out in the Price List and the Agreement.
the Remote Banking Services Agreement entered into by and
between the Customer and the Bank and the present Terms.
a service which enables being notified about Operations via
User’s Communication Channels.
the execution of a payment or a transfer, the carrying out of
transactions with funds or securities in the Accounts, the entry
into an agreement, and the acceptance of an application or
notification by the Bank, or any such other action as the Bank
or a Cooperation Partner may offer to be executed via the
Remote Banking Services.
the Account opening and servicing agreement, the General
Conditions of the Bank, the Price List, and such other terms
and conditions for performing Operations as the Bank, or a
Cooperation Partner, and the Customer have agreed in
paper-based form or via the Remote Banking Services.
text messaging, e-mail and the Bank’ s mobile app according
to the mobile phone number, e-mail address and/or mobile
device identification number registered by the User and
confirmed by the Bank.
a cooperation partner approved by the Bank who has
entrusted to the Bank the offering of its services or the
execution of Operations in accordance with transactions
made, or to be made, between the Cooperation Partner and
the Customer, or the agreeing, on behalf of the Cooperation
Partner, on electronic signing or certification of documents.
the service which enables the giving of instructions for
execution of Operations by calling the operator on the phone
number +37167444444, or on such other number as specified
in the Terms of Operations, during the business hours set by
the Bank.
2. General
2.1. The Agreement lays down the procedure for using the Remote Banking
Services. Operations are governed by the Terms of Operations.
2.2. Internet Banking and Telephone Banking for natural persons is available in
the following modes:
2.2.1. information-only mode where the User can prepare and obtain information
about Accounts and Operations;
2.2.2. full-access or transactions mode where the User can, in addition to the
functions available in the information-only mode, give instructions for execution of
Operations.
2.3. Internet Banking and Telephone Banking for legal persons is available in the
following modes:
2.3.1. payment-preparation mode - the User can prepare instructions for
execution of payments and transfers (only for Internet Banking);
2.3.2. information-only mode - the User can, in addition to the functions available
in the payment-preparation mode, prepare and obtain information about
Accounts and Operations;
2.3.3. transactions mode - the User can, in addition to the functions available in
the information-only mode, confirm instructions for execution of payments and
transfers and give instructions for execution of selected Operations;
2.3.4. full-access mode - the User can, in addition to the functions available in the
transactions mode, give instructions for execution of Operations.
2.4. The Remote Banking Services may be available in other modes as defined
in other agreement between the Bank, or a Cooperation Partner, and the
Customer.
2.5. The Customer may grant the User Management Rights to a User which
allows the User to make changes in the Agreement via Internet Banking to the
extent set by the Bank.
2.6. User Management Rights are available in the following modes:
2.6.1. viewing mode – the User may receive information about the existing
Agreement;
2.6.2. preparation mode – the User may receive information about the existing
Agreement and prepare changes for entry into the Agreement;
2.6.3. agreement conclusion mode – the User can, in addition to the functions
available in the preparation mode – enter into the Agreement.
2.7. User Management Rights are granted to the User in respect of all of the
Customer's existing and future Accounts with the Bank.
2.8. Security Settings ensure access restrictions to the Customer’s Internet
Banking according to the selected Security Settings.
3. User Authentication
3.1. The Bank assigns a User ID and a permanent password and issues the code
card or the security token to the User. If the Customer has set a higher Limit for
an account than that set in the Price List, then in execution of Operations above
the Limit set in the Price List the User Authentication Credentials are the secure
electronic signature and/or the security token. User Authentication Credentials
may be changed, renewed and activated upon Customer’s or User’s request at
any branch of the Bank.
3.2. For accessing and using Internet Banking and Telephone Banking, the Bank
authenticates the User by the User ID and the User Authentication Credentials.
The Customer agrees that the User may be authenticated by other User
Authentication Credentials (passwords, identifiers, etc.) in the use of Remote
Banking Services for execution of certain Operations under the Terms of
Operations. If the User and the Customer are one and the same natural person
or the User is the authorized signatory, whose signatory powers are registered at
the Bank, for a legal person who is a party to this Agreement, then the Bank may
identify that User as the Customer.
3.3. The User may use Communication Channels to submit orders, in the manner
prescribed by the Bank, for execution of Operations set by the Bank or for
receiving information, including about User Authentication Credentials.
3.4. If the User instructs the Bank to block access to Remote Banking Services, it
will be permissible to authenticate the User by the User ID and/or such other
information as may be in the possession of the Bank and the User.
3.5. All information that contains User Authentication Credentials constitutes
confidential information which the User and the Bank undertake to keep secret
and to keep unavailable to any third party. The User has a duty to keep the
confidential information secure, as well as to change/renew the permanent
password on a regular basis but in any event at least at the intervals set by the
Bank.
3.6. The User has a duty to ensure unavailability of their User Authentication
Credentials and Communication Channels to third parties and to immediately
notify the Bank of any change in or discontinued use, including loss and theft, of
the User Authentication Credentials, phone number, e-mail address or mobile
device.
3.7. Should User Authentication Credentials become available, or may become
or may have become available, to a third party, the User shall, without undue
delay, notify the Bank thereof in writing or by phone, where after the Bank will
block access to the Remote Banking Services as soon as possible until such time
as new User Authentication Credentials are issued to the User on the basis of an
application by the User and the User has instructed the Bank to unblock access
to Remote Banking Services.
3.8. Access to the Remote Banking Services will be blocked if the User
Authentication Credentials are entered or stated incorrectly for five consecutive
times.
3.9. In order to ensure the safety, integrity and confidentiality of services for the
Customer and/or other Customers of the Bank, or in order to prevent potential
losses to the Bank or customers, or in complying with decisions by or orders from
state authorities and/or public officials which must be complied with on a
mandatory basis pursuant to the statutory procedure, the Bank has the right but
not an obligation to block User’s access to Remote Banking Services in full or
partly when suspicion arises to the Bank that the confidential information has or
may have become available to a third party or that an unlawful act may have
been committed.
4. Execution of User’s Instructions
4.1. The Terms of Operations validated through Remote Banking Services will be
treated as being equivalent to hand signed and paper-based documents. The
Bank may exercise its sole discretion to select the Operations the execution of
which requires entry into a relevant paper-based agreement.
4.2. The Bank may deny execution of an Operation if:
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4.2.1. the Customer or the User violates the Terms of Operations or the Remote
Banking Services user guides;
4.2.2. the User has not confirmed the contents of an order in Telephone Banking;
4.2.3. reasonable suspicion arises to the Bank as to the identity of the User, or
the Bank fails to get in touch with the Customer to confirm the contents of an
order;
4.2.4. there are no sufficient funds in the Account for execution of the Operation
and for payment of the services rendered;
4.2.5. the Limit and/or Maximum Limit is exceeded or the conditions set out in the
Price List or the Terms of Operations are not complied with;
4.2.6. the User’s order is ambiguous or distorted due to a communications
malfunction.
4.3. In the event that the Bank has accepted the User’s order to execute an
Operation, but there are no sufficient funds in the Account to execute the
Operation and pay for the services, such an order shall be stored in the Bank’s
system until the Account has a sufficient amount of funds. Such orders will be
cancelled in case the Account is not credited with a sufficient amount of funds
within 10 days of submission of the order.
4.4. The User and the Customer agree that any instruction for execution of
Operations which has been confirmed with the User Authentication Credentials is
true and binding on the Customer, on the User and on the Bank and will be
treated as equivalent to a hand signed paper-based order by the Customer or the
User. The Customer agrees to the Bank’s right to agree with Cooperation
Partners on electronic signing or certification of documents on behalf of
Cooperation Partners. The Agreement applies to electronic documents, notices,
information, confirmations and instructions for execution of Operations in
connection with respective transactions between the Customer and the
Cooperation Partner.
4.5. The Customer and the User agree that all notices and information (including
documents certified electronically with the e-Seal) reflected or given via Remote
Banking Services will be considered to constitute information binding on the
Customer and the User and that such information will be considered as
essentially equivalent to any information, statement, confirmation letter or
acknowledgement provided or made by the Bank as a paper-based and signed
document. Account statements available via Internet Banking are made and
stored at the Bank in electronic form in accordance with applicable legislation.
4.6. Upon receiving an order from a User, the Bank or Cooperation Partner will
have the right to contact the User and verify the accuracy of the order.
4.7. The Customer may additionally set a limit on a single Operation upon
exceeding of which every such individual Operation will require additional
confirmation by the Customer. The additional confirmation will be obtained by the
Bank or Cooperation Partner within one business day by contacting the
Customer on the contact phone number registered at the Bank. If the Customer
does not confirm the order or if the Bank or Cooperation Partner is unable to get
in touch with the Customer, then the Bank or Cooperation Partner will have the
right not to execute the Operation.
4.8. The Customer agrees that the Bank is authorized to record information (incl.
conversations) communicated through Telephone Banking and to log actions
carried out via Internet Banking or Communication Channels and, where
necessary, use such records for proving or substantiating execution of
Operations carried out.
4.9. The User’s orders for making payments and transfers will be executed up to
the set Limit and Maximum Limit, except payments and transfers to another
account held by the Customer with the Bank. Other Operations may be carried
out by the Bank regardless of the Limit and the Maximum Limit, unless stipulated
otherwise in the applicable Terms of Operations.
5.4.3. compliance with the Agreement and the Terms of Operations and for the
User being aware of and complying with same;
5.4.4. all loss incurred as a result of execution of non-authorized Operations if the
Customer and/or the User has acted unlawfully or has deliberately or through
gross negligence failed to comply with the requirements set forth in Clause 3.5,
3.6, 3.7, 5.2 of these Terms.
5.5. The Bank shall not be liable for any losses suffered by the Customer:
5.5.1. if the User has failed to comply with the Agreement and Terms of
Operations;
5.5.2. as a result of any unlawful acts by third parties until the time of blocking
Remote Banking Services according to procedure set forth in Clause 3.6, 3.7 and
5.2 of these Terms;
5.5.3. due to a communications malfunction and as a result of other
malfunctioning or hindrances beyond reasonable control of the Bank;
5.5.4. if the contents of Alerts has become known to third parties in the User’s
Communication Channels;
5.5.5. if the User's phone number, e-mail address or mobile device has been
made available or granted to a third party;
5.5.6. if the Cooperation Partner fails to perform, or performs unsatisfactorily, their
respective obligations arising from the Terms of Operations;
5.5.7. if User’s access to Remote Banking Services has been blocked according
to the Agreement;
5.6. If the User denies having authorized or having given his/her consent to
execution of an Operation, then the use of Remote Banking Services User
Authentication Credentials will be considered to constitute sufficient proof that the
User has consented to the Operation or has acted fraudulently or has failed to
perform, deliberately or through negligence, any of the duties set forth in Clause
3.5, 3.6, 3.7 or 5.2 of these Terms.
5.7. The Bank may delete Alerts without sending them to the User if the User’s
Communication Channels are unavailable for more than 24 hours.
6. Charges for Remote Banking Services
The Bank will debit charges for the provision of Remote Banking Services from
the Account as per Price List and as per Terms of Operations without any prior
approval by the Customer.
7. Validity and Termination of the Agreement
7.1. The Agreement shall enter force upon signing thereof and shall remain in
force for an unlimited period of time, unless stipulated otherwise in the
Agreement. The Customer shall have the right to terminate the Agreement at any
time by giving a relevant notice thereof to the Bank or to a Cooperation Partner in
according to the transactions entered into between the Customer and the
Cooperation Partner. The Bank will discontinue execution of Operations and will
terminate the Agreement within a maximum of one business day following receipt
of the Customer’s application.
7.2. The Bank shall have the right to terminate the Agreement at any time by
giving a two months prior notice thereof to the Customer. The Bank shall have
right to discontinue the provision of Remote Banking Services to the Customer
and terminate the Agreement immediately and without any prior warning in the
event of violation of the present Terms by the Customer or the User.
7.3. The Bank will have the right to terminate the Agreement at any time if a
petition to commence the Customer’s insolvency procedure is filed.
7.4. The Agreement will be terminated automatically upon closing the last
Account.
7.5. The Bank will have the right to discontinue the provision of the Alerts service
without any prior warning to the Customer if:
7.5.1. the Customer’s Communication Channels are out of reach for more than 3
5. Liability and Responsibility
business days of the Bank;
5.1. The Bank shall have a duty:
7.5.2. the contractual relationship between the Bank and the respective mobile
5.1.1. to authenticate the User in compliance with the Agreement;
carrier is terminated and the mobile phone number is the User’s only
5.1.2. to cause Remote Banking Services to be provided in compliance with the Communication Channel.
Agreement and the Terms of Operations.
8. Changes in Agreement and Price List
5.2. The Customer shall have a duty:
5.2.1. to introduce the User to the Agreement and Terms of Operations;
The Bank shall have the right to amend the present terms, the Remote Banking
5.2.2. to provide an amount of funds in Accounts sufficient for performing Services user guides, the Limits and the Price List at any time at its sole
Operations and paying for the services provided by the Bank;
discretion. It shall be the Customer’s right and obligation to follow any changes in
5.2.3. to notify the Bank in the events set forth in Clause 3.6 and 3.7 and to the aforesaid documents. Information on the changes made shall be available on
furnish other information important for performance of the Agreement, including the Internet Banking site, at the Bank’s premises during business hours of the
about any changes in the Remote Banking Services mode and rights;
Bank, on the website of the Bank http://www.swedbank.lv and as otherwise
5.2.4. to verify the accuracy of executed transactions and to read the messages stipulated by the Bank.
sent by the Bank or Cooperation Partners to the Customer on the Internet
9. Miscellaneous
Banking at least once a calendar month;
5.3. The Customer may lodge a claim to the Bank for executed banking 9.1. All cases of disputes or uncertainties related to Remote Banking Services,
Operations within 60 days, or if the Customer is a consumer and the payment execution of Operations and Terms of Operations shall be resolved by
was made in a Member State currency to other payment services provider in a negotiation. Presentation of a written claim to the other Party shall be a
Member State and if it has been impossible to comply with that time-limit, then precondition to dispute resolution.
within a maximum of 13 months as from the time of execution thereof. Should the 9.2. If it proves impossible to resolve a dispute by negotiation, it shall be resolved,
Customer not present their claim within the aforesaid time limit, then the at the claimant’s discretion, either at a court of law of the Republic of Latvia in
Customer will be considered to have approved all the executed transactions and accordance with applicable laws and regulations of the Republic of Latvia or at
to have assumed full liability for such transactions.
the Court of Arbitration of the Association of Commercial Banks of Latvia (Perses
iela 9/11, Riga) according to the rules and regulations of the court of arbitration.
5.4. The Customer shall be liable for:
5.4.1. the validity, accuracy, completeness, and updating of facts stated in the The number of arbitrators shall be one. If the Customer is a consumer, then the
Agreement or required to be furnished under the Agreement;
dispute in question shall be referred to courts of the Republic of Latvia in
accordance with laws and regulations of the Republic of Latvia.
5.4.2. accuracy and completeness of the User’s orders;
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